https://www.siliconvalley.com/2022/06/29/ex-stockbroker-from-chino-hills-pleads-guilty-to-3-2-million-investment-fraud-scheme/

A 61-year-old former stockbroker from Chino Hills pleaded guilty to running a $3.2 million investment fraud scheme that deceived more than 100 victims, federal prosecutors said Tuesday, June 28.

Robert Louis Cirillo never invested the victims’ money, instead spending it on such personal expenses as a trip to Las Vegas, a Jeep and an Alfa Romeo and credit card payments, the U.S. Department of Justice said in a news release. He also conspired to defraud an elderly man out of nearly $400,000 through a “relative-in-distress” scheme, authorities said.